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Fly News Breaks for June 15, 2018
FNSR
Jun 15, 2018 | 05:08 EDT
Finisar last night reported in line sales results, but missed on earnings due to margin pressure in the Datacom business, and provided July quarter guidance relatively in-line with expectations, Piper Jaffray analyst Troy Jensen tells investors in a research note. He believes Datacom pricing pressure is being driven by the switch of 100G products going into datacenter applications. The analyst sees little reason to own the stock at current valuations and remains on the sidelines with a Neutral rating and $18 price target.
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